{"id":77450,"date":"2024-03-12T11:44:03","date_gmt":"2024-03-12T16:44:03","guid":{"rendered":"https:\/\/equitynewsreport.com\/cytomx-shares-target-cut-to-3-25-from-3-25-by-bmo-capital\/"},"modified":"2024-03-12T11:44:03","modified_gmt":"2024-03-12T16:44:03","slug":"cytomx-shares-target-cut-to-3-25-from-3-25-by-bmo-capital","status":"publish","type":"post","link":"https:\/\/equitynewsreport.com\/h\/cytomx-shares-target-cut-to-3-25-from-3-25-by-bmo-capital\/","title":{"rendered":"CytomX shares target cut to $3.25 from $3.25 by BMO Capital"},"content":{"rendered":"<div readability=\"59\">\n<div id=\"imgCarousel\" class=\"imgCarousel\">\n<img decoding=\"async\" alt=\"CytomX shares target cut to $3.25 from $3.25 by BMO Capital\" id=\"carouselImage\" src=\"https:\/\/i-invdn-com.investing.com\/news\/LYNXNPEC0L0PD_L.jpg\"><br \/>\n<span class=\"text\">\u00a9 Reuters. <\/span><br \/>\n<i class=\"imgGrad\"><\/i>\n<\/div>\n<p>Tuesday, BMO Capital Markets adjusted its price target on shares of CytomX Therapeutics (NASDAQ:), bringing it down to $3.25 from the previous $3.30. The firm retained its Market Perform rating on the biopharmaceutical company&#8217;s stock.<\/p>\n<p>CytomX Therapeutics reported a significant year-over-year increase in collaboration revenues for the fiscal year 2023, amounting to $101.2 million, which marks a 90% rise from the previous year. The company also confirmed its cash position of $174.5 million. This financial status is expected to provide CytomX with a sufficient runway well into the second half of 2025, consistent with their prior guidance.<\/p>\n<p>The company is looking forward to the dose escalation data from the Phase 1 study of CX-904 in the second half of the year. This data will be crucial for Amgen (NASDAQ:) to make an informed decision on whether to proceed further with the development. Meanwhile, Bristol Myers (NYSE:) Squibb (BMS) has decided not to advance the development of BMS-986288 beyond Phase 2. Consequently, the ongoing collaboration with BMS will now focus on preclinical programs.<\/p>\n<p>In addition to these developments, CytomX provided updates on its pipeline, which were reported to align with expectations. <\/p>\n<p><em>This article was generated with the support of AI and reviewed by an editor. For more information see our T&#038;C.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a9 Reuters. Tuesday, BMO Capital Markets adjusted its price target on shares of CytomX Therapeutics (NASDAQ:), bringing it down to $3.25 from the previous $3.30. The firm retained its Market Perform rating on the biopharmaceutical company&#8217;s stock. CytomX Therapeutics reported a significant year-over-year increase in collaboration revenues for the fiscal year 2023, amounting to $101.2 million, which marks a 90% rise from the previous year. The company also confirmed its cash position of $174.5 million. This financial status is expected to provide CytomX with a sufficient runway well into the second half of 2025, consistent with their prior guidance. The [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":77451,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,49,50,3],"tags":[],"_links":{"self":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/posts\/77450"}],"collection":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/comments?post=77450"}],"version-history":[{"count":0,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/posts\/77450\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/media\/77451"}],"wp:attachment":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/media?parent=77450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/categories?post=77450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/tags?post=77450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}